RAWALPINDI, July 26: State Minister for Finance Omar Ayub Khan has expressed concern over shortage of technical and vocational work force in the country and stressed raising skilled manpower for the industrial sector.

He was speaking at a seminar on ‘Export marketing and strategies’ at a local hotel on Tuesday.

The minister said labour was in abundance and cheap in Pakistan, but it was mostly unskilled, resulting in numerous problems for both the workers and industries.

To fill this gap, a national technical and vocational training authority has been established at the federal level to prepare technical manpower for the country, the minister said. The authority would help prepare about 0.3 million technical labour force up to 2007, he said.

The minister reiterated the government’s resolve to enhance exports by pursuing pro-trade policies. He was of the opinion that export had increased, but the ideal situation would be when it was equal to the GDP. The target set by the government for export this year is $18 billion, he said.

Mr Ayub said economy was improving. There is increase in purchase and utilization of different items and utilities like agricultural equipment, electronic appliances, electricity etc., in rural areas, indicating that economic prosperity is coming. He called it a silent revolution.

He said the government had ensured continuity of policies. Unlike the statutory rules and orders issued by the Central Board of Revenue in the past, which would bring increase/decrease in duties, monetary policies at present are consistent and transparent.

The minister also spoke about the government’s privatization and deregulation policies. He said the government was pulling out of business and would play the role of a facilitator.

About the Karachi Stock Exchange, he said a committee had been formed which put forward recommendations. He said violation of the writ of the Security and Exchange Commission of Pakistan would not be allowed at any cost.

He said small industries were the backbone of the country’s economy. The government has established a business development fund (BDF) for the promotion of this sector.

BDF will provide matching grants to enable people to start their own business. The minister asked industrialists not to depend on bank financing, and explore other sources for funding industries.

A national productivity organization has also been established, the minister said and asked traders and investors to keep contact with the organization for business matters.

He said the president and the prime minister during their foreign trips made it clear to the world that Pakistan did not need aid but trade.